Due diligence Earnest money deposit Home sale contingency Pre-approval 
Realty Biz
NOVEMBER 11, 2020
This means that certain clauses have to be completed, by perhaps both buyer and the seller, for the sale to close. If these contingencies aren’t met, the buyer can walk away from the deal. They will also get their earnest money deposit back , and the home will go back on the market.
HomeLight
JUNE 23, 2022
It is simply a period of time that the buyer sets to secure financing approval from a lender for the purchase of the home. If the financing fails, the buyer can pull out of the contract with a full refund for earnest money as long as it’s before the specified deadline. Issues that arise during due diligence.
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